Benchmark Statement for BSc and BA Degrees in Economics (in UK Universities) (QAA, 2007)
At: http://www.qaa.ac.uk/en/Publications/Documents/Subject-benchmark-statement-Economics.pdf
Benchmark standards
The benchmark levels proposed below are for both a single honours degree in economics, and for those degrees
where economics is a major component. Students following degrees where economics is a minor component will not
be expected to attain all of these benchmarks.
The threshold level
A graduate in economics who has attained the threshold level should:
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demonstrate knowledge of economic concepts and principles
demonstrate knowledge of economic theory and modelling approaches
demonstrate awareness of quantitative methods and computing techniques appropriate to their
programme of study, and show an appreciation of the contexts in which these techniques and methods are
relevant
display knowledge of the sources and content of economic data and evidence and appreciate what methods
might be appropriately applied to the analysis of such data
know how to apply economic reasoning to policy issues
demonstrate knowledge in an appropriate number of specialised areas in economics
display awareness of the possibility that many economic problems may admit of more than one approach
and may have more than one solution.
In this document, 'knowledge' and 'understanding' have the following meanings. Knowledge is the ability to
reproduce theory and evidence as taught; understanding is a term applied to constructive and critical use and
analysis of that material.
The typical level
A graduate in economics who has attained the typical level should:
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demonstrate understanding of economic concepts and principles
demonstrate understanding of economic theory and modelling approaches, and their competent use
demonstrate proficiency in quantitative methods and computing techniques and know how to use these
techniques and methods effectively across a range of problems
display understanding of the sources and content of economic data and evidence and of those methods that
might be applied appropriately to the analysis of such data
know how to apply economic reasoning to policy issues in a critical manner
demonstrate knowledge in an appropriate number of specialised areas in economics, as well as an
appreciation of the research literature in these areas
display familiarity with the possibility that many economic problems may admit of more than one approach
and may have more than one solution.